Schroder Investment Management Group lifted its position in Ashland Global Holdings Inc (NYSE:ASH) by 9.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 993,030 shares of the basic materials company’s stock after purchasing an additional 81,913 shares during the period. Schroder Investment Management Group owned about 1.64% of Ashland Global worth $79,413,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ASH. Mcmillion Capital Management Inc. bought a new position in shares of Ashland Global in the second quarter worth approximately $28,000. Advisory Services Network LLC grew its holdings in shares of Ashland Global by 213.4% in the second quarter. Advisory Services Network LLC now owns 351 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 239 shares during the last quarter. Executive Wealth Management LLC grew its holdings in shares of Ashland Global by 738.2% in the second quarter. Executive Wealth Management LLC now owns 461 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 406 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of Ashland Global in the second quarter worth approximately $40,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Ashland Global in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 95.93% of the company’s stock.
Several research analysts have recently issued reports on the stock. Credit Suisse Group set a $92.00 target price on shares of Ashland Global and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. cut shares of Ashland Global from an “overweight” rating to a “neutral” rating and set a $82.00 target price on the stock. in a report on Friday, June 14th. They noted that the move was a valuation call. ValuEngine upgraded shares of Ashland Global from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th. TheStreet cut shares of Ashland Global from a “b” rating to a “c” rating in a report on Monday, June 10th. Finally, Zacks Investment Research upgraded shares of Ashland Global from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ashland Global presently has an average rating of “Buy” and a consensus price target of $89.00.
Ashland Global (NYSE:ASH) last announced its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Ashland Global had a return on equity of 5.15% and a net margin of 3.63%. The company had revenue of $641.00 million during the quarter, compared to analyst estimates of $640.29 million. During the same quarter last year, the firm posted $0.77 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Ashland Global Holdings Inc will post 2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Friday, August 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, August 29th. Ashland Global’s payout ratio is 30.73%.
Ashland Global Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company's Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.
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